Authentic Holdings Reports $399,000 Revenue for Fiscal Year 2024, Faces Financial Challenges

Authentic Holdings, Inc. reported a revenue of approximately $399,000 for the fiscal year ending December 31, 2024, a significant increase from zero revenue in the previous year. The company attributed this growth primarily to its Maybacks division, which has been actively entering into agreements to expand its market presence and advertising revenue. Despite this revenue generation, Authentic Holdings continues to face financial challenges, posting a net loss of $1,320,137 for 2024, an improvement from the $1,658,455 loss recorded in 2023. The company has accumulated a deficit of $39,358,905 as of December 31, 2024, raising concerns about its ability to continue as a going concern.

In terms of operational developments, Authentic Holdings has made strategic moves, including the acquisition of Maybacks Global Entertainment, which has expanded its television network from 25 to 56 channels over the past year. The company is also in the process of acquiring content from Goliath Motion Picture Promotions, transitioning from a purchase agreement to a licensing agreement for a period of ten years. This shift is expected to enhance the company's content distribution capabilities and create additional revenue streams, including video on demand and pay-per-view events.

The company has also made strides in its product offerings, particularly through its subsidiary Authentic Heroes, which has signed a licensing agreement with NFL quarterback Tommy DeVito for commemorative collectibles. Additionally, Authentic Holdings is working on a new e-commerce site to facilitate sales of these collectibles. The company has also developed an NFT platform, which is set to launch music NFTs in compliance with SEC guidelines, further diversifying its revenue potential.

Despite these developments, Authentic Holdings faces significant operational challenges, including a working capital deficit of $5,324,665 and various debts in default, including convertible notes totaling $1,403,428. The company has limited cash resources, with only $5,890 available as of December 31, 2024. Management has indicated that the ability to continue operations will depend on securing additional financing and generating positive cash flow from operations. The company plans to pursue equity and debt financing to support its ongoing activities, but there is no assurance that such funding will be available on favorable terms.

Looking ahead, Authentic Holdings remains optimistic about its growth prospects, particularly through its Maybacks division and the anticipated launch of new products and services. However, the company acknowledges the inherent risks associated with its business model, including competition from larger firms and the need to effectively manage its growth and operational challenges. The management's focus will be on expanding market reach, enhancing product offerings, and securing necessary funding to sustain operations and achieve profitability in the future.